Retirement - are you willing to toss $2700.00?

[dabhand]

7 hours ago, Otis Cribelcoblis said:

I sold my gold when it hit 1350 last year.  I bought in again at 1205.  

 

I'm doing fine.  Better than parking it in a Thai bank account.

You initially said you bought your gold eight months ago. Now you are saying you 'bought in again at 1205'. The gold price chart suggests that the price of gold eight months back was close to 1300, with 1205 being the price around 5/6 months back. Hmmmm.

 

 

[Thailand J]

Gold price has been flat since 2013.

It was higher 8 months ago.

One simple way to invest in gold is to buy into a gold ETF such as GLD, which tracks gold price closely. You can do it online if you have a brokerage account.

 

Edited February 1, 2019 by Thailand J

[jmd8800]

Looks like this has become an investment thread.

 

Putting money in a Thai bank is a 'cost of living' of living in Thailand. Thailand is asking you to put some money in an account in exchange for you living here. They have every right to do that. You have every right to reject the terms the Thai gov't requires of you to live here.

 

You have choices. Choose whatever floats your boat.

[HuskerDo]

2 hours ago, jmd8800 said:

Looks like this has become an investment thread.

 

Putting money in a Thai bank is a 'cost of living' of living in Thailand. Thailand is asking you to put some money in an account in exchange for you living here. They have every right to do that. You have every right to reject the terms the Thai gov't requires of you to live here.

 

You have choices. Choose whatever floats your boat.

It would appear that many peoples boats have holes in the now due to the new requirements. I don't think the agents will be able to plug those holes anymore going forward. 

[Otis Cribelcoblis]

On 2/1/2019 at 9:59 AM, dabhand said:

You initially said you bought your gold eight months ago. Now you are saying you 'bought in again at 1205'. The gold price chart suggests that the price of gold eight months back was close to 1300, with 1205 being the price around 5/6 months back. Hmmmm.

 

 

Wow, you caught me.  Wait, doing what?  I sold the gold I had when it hit the high last year.  When it was 1200 or so I bought it again.  So you caught me with what?  Please explain.

[sfokevin]

In the best of both worlds one should be able to buy a few Thai Baht gold chains and wear them to Immigration for your annual extension and use them as your 800k... 

 

 

[Otis Cribelcoblis]

58 minutes ago, sfokevin said:

In the best of both worlds one should be able to buy a few Thai Baht gold chains and wear them to Immigration for your annual extension and use them as your 800k... 

 

 

You apparently haven't seen the sign outside the front door at Immigration in Chang Wattana.

[dabhand]

3 hours ago, Otis Cribelcoblis said:

Wow, you caught me.  Wait, doing what?  I sold the gold I had when it hit the high last year.  When it was 1200 or so I bought it again.  So you caught me with what?  Please explain.

I thought my comment was quite clear. Perhaps you have English comprehension issues so, to assist you: your 1st comment noted you had bought the gold 8 months ago. The price at that time was around 1300. you now say you bought the gold at 1200, which was the price 5/6 months ago. Your story seems not to match with the gold price history. Please explain.

[Otis Cribelcoblis]

5 minutes ago, dabhand said:

I thought my comment was quite clear. Perhaps you have English comprehension issues so, to assist you: your 1st comment noted you had bought the gold 8 months ago. The price at that time was around 1300. you now say you bought the gold at 1200, which was the price 5/6 months ago. Your story seems not to match with the gold price history. Please explain.

 

You're quite the Sherlock Holmes, aren't you?  Would you like the exact day and time so you can create a spreadsheet to correlate the price and the date/time?  

 

Let me help you understand.  The price goes up, the price goes down.  Last year it went up.  I sold at the high.  Then it went down, and I bought it again at the low.  

 

Now it is up. 

 

I'm going to sneeze, do you want me to come back and post the exact time and velocity?

[HuskerDo]

3 hours ago, sfokevin said:

In the best of both worlds one should be able to buy a few Thai Baht gold chains and wear them to Immigration for your annual extension and use them as your 800k... 

 

 

I PITY THE FOOL who wears this many gold chains. :-) 

[Otis Cribelcoblis]

1 minute ago, HuskerDo said:

I PITY THE FOOL who wears this many gold chains. ????

 

I have seen quite a few Thai with almost as many.

[HuskerDo]

25 minutes ago, Otis Cribelcoblis said:

 

You're quite the Sherlock Holmes, aren't you?  Would you like the exact day and time so you can create a spreadsheet to correlate the price and the date/time?  

 

Let me help you understand.  The price goes up, the price goes down.  Last year it went up.  I sold at the high.  Then it went down, and I bought it again at the low.  

 

Now it is up. 

 

I'm going to sneeze, do you want me to come back and post the exact time and velocity?

To be honest Otis posting after the fact of purchases and sales is silly if you want to be credible. You claim to have SOLD AT THE HIGH and BOUGHT IT AGAIN AT THE LOW. Maybe and maybe not. Try quoting your transactions when they actually happen and we'll take notice as to how well you did. Anyone can claim they bought low, sold at the high and bought back in at the low. No one can do that on a regular basis. You are not believable.

[HuskerDo]

4 minutes ago, Otis Cribelcoblis said:

 

I have seen quite a few Thai with almost as many.

Nonsense.

[Otis Cribelcoblis]

12 minutes ago, HuskerDo said:

To be honest Otis posting after the fact of purchases and sales is silly if you want to be credible. You claim to have SOLD AT THE HIGH and BOUGHT IT AGAIN AT THE LOW. Maybe and maybe not. Try quoting your transactions when they actually happen and we'll take notice as to how well you did. Anyone can claim they bought low, sold at the high and bought back in at the low. No one can do that on a regular basis. You are not believable.

Were you not "quite" honest before?  Why be "quite" honest now?  You're a time waster.  I'll help you out by ignoring you with the forum software.  

 

I'm honest about it, not "quite."

[HuskerDo]

7 minutes ago, Otis Cribelcoblis said:

Were you not "quite" honest before?  Why be "quite" honest now?  You're a time waster.  I'll help you out by ignoring you with the forum software.  

 

I'm honest about it, not "quite."

It's hard to ignore the truth Otis. 

[Ks45672]

On 2/1/2019 at 2:10 AM, impulse said:

 

Wow.

 

Looks just like Enron stock.  It outperformed gold, too.

 

Better look at the results since 2017...

 

Why not look at the results from 2011?

 

I paid $3 per btc and u know people who bought it as low as 5 cents ,a lot of purple people around here

 

Sad... 

[HuskerDo]

On ‎2‎/‎1‎/‎2019 at 6:38 AM, jmd8800 said:

Looks like this has become an investment thread.

 

Putting money in a Thai bank is a 'cost of living' of living in Thailand. Thailand is asking you to put some money in an account in exchange for you living here. They have every right to do that. You have every right to reject the terms the Thai gov't requires of you to live here.

 

You have choices. Choose whatever floats your boat.

You are right JM but unfortunately some here have holes in their boats so...… ????     

Edited February 2, 2019 by HuskerDo

[impulse]

7 hours ago, Ks45672 said:

Why not look at the results from 2011?

 

I paid $3 per btc and u know people who bought it as low as 5 cents ,a lot of purple people around here

 

Sad... 

 

Because I can't turn back the clock and buy it in 2011.  And I don't think you can, either.  Today, it's not a good bet.   

 

Could it go to $50,000 as some pundits seem to predict?  Sure. 

 

But there's a huge difference in the downside between your $3 bitcoin that hit $20,000 and today's $3,000 bitcoin that may (?) go to $50K.  And not nearly as much upside relative to the risk of it going tits up.  Like Enron did.

 

Edit:  BTW, if I want to buy something worth $100 with Bitcoin, how much will that blockchain transaction cost to implement today?  In 5 more years?

 

 

 

Edited February 3, 2019 by impulse

[SheungWan]

If one's finances are limited such that it is a necessary choice between either keeping 800k in the bank for one's visa extension OR using that money for different investment purposes, then decide which one of these is more important to you and act accordingly. 

Edited February 3, 2019 by SheungWan

[ballpoint]

The question shouldn't be are you willing to lose the income from 800,000 baht invested somewhere in order to remain here with a retirement visa, but rather, how much will the alternative cost?  If the cost of moving somewhere else and satisfying their visa requirements is less than THB 800,000, and living there is the same, or lower, cost as Thailand, then for someone with limited funds, it would appear to be a no brainer. 

[guzzi850m2]

What is the best interest rate you can get in a Thai bank? 1 or 2% perhaps?

 

The problem is that you can't put the 800k in a long term high interest account as the money has to be easy/quick to get in case of an emergency.

 

Since I got some years before retiring, I will likely just save up the 800k and put them into an Thai account and forget about them. My wife can then get them when I die. I might also change my retirement extension to marriage visa which oddly only demand 1/2 of 800k. 

[topt]

23 minutes ago, guzzi850m2 said:

The problem is that you can't put the 800k in a long term high interest account as the money has to be easy/quick to get in case of an emergency.

Most "fixed" accounts in Thailand you can take out the money early but you lose any interest. They are fixed as a term but not as in a fixed account in most western countries.

That is why Immigration (at least in Jomtien) accept them.

 

However you are right in that there are not that many accounts paying even the base rate of 1.75%

 

[Ks45672]

5 hours ago, impulse said:

 

Because I can't turn back the clock and buy it in 2011.  And I don't think you can, either.  Today, it's not a good bet.   

 

Could it go to $50,000 as some pundits seem to predict?  Sure. 

 

But there's a huge difference in the downside between your $3 bitcoin that hit $20,000 and today's $3,000 bitcoin that may (?) go to $50K.  And not nearly as much upside relative to the risk of it going tits up.  Like Enron did.

 

Edit:  BTW, if I want to buy something worth $100 with Bitcoin, how much will that blockchain transaction cost to implement today?  In 5 more years?

 

 

 

Apple, Google, amazon, Uber,Airbnb, Facebook were all pennies in the start and they all chanced 

 

Bill Gates was unable to convince his best friend Warren buffet to invest in Microsoft in 1994

 

There are no 100% risk free investments and everyone here should be able to make to their own mind what their risk/reward tolerance is and act accordingly 

 

I would not like a portfolio that didn't include some exposure to cryptocurrency but I'm not here to sell it anyone else 

 

You pays your money and you takes your chance... 

[impulse]

8 hours ago, Ks45672 said:

Apple, Google, amazon, Uber,Airbnb, Facebook were all pennies in the start and they all chanced 

 

Bill Gates was unable to convince his best friend Warren buffet to invest in Microsoft in 1994

 

There are no 100% risk free investments and everyone here should be able to make to their own mind what their risk/reward tolerance is and act accordingly 

 

I would not like a portfolio that didn't include some exposure to cryptocurrency but I'm not here to sell it anyone else 

 

You pays your money and you takes your chance... 

 

The difference being, of course, that Google, Microsoft and Amazon generate revenue and earnings and throw off cash.  Bitcoin?  Nope

 

Gold can be made into jewelry, used to plate electrical conductors, and a myriad of other uses.  Bitcoin?  Nope.

 

Real estate and land, the same.  Many uses other than just watching the charts.  Bitcoin?  Nope

 

Hell, even a Forex investment throws off interest from the bank where you keep your Somali Simolians.  Bitcoin?  Nope.

 

Bitcoin reminds me of the emperor's new clothes...    They looked great to some.  Not so great to others.

 

Find me a crypto based on something tangible, and the game changes.

 

Edited February 3, 2019 by impulse

[Airalee]

As a proponent of owning gold....Bullion (Pamp, GAE, Buffalos etc)...not GLD etc, I’ll chime in with my opinion.

 

I look at the ฿800k as my seed corn.  Something I need to continue my existence here in the future. I don’t speculate with my seed corn.

 

To me, gold is not an investment but rather a speculative asset.  You can even call it insurance if you wish to parrot the kitco doomers.  I sure hope I never have to cash in that policy.

[Ks45672]

6 hours ago, impulse said:

 

The difference being, of course, that Google, Microsoft and Amazon generate revenue and earnings and throw off cash.  Bitcoin?  Nope

 

Gold can be made into jewelry, used to plate electrical conductors, and a myriad of other uses.  Bitcoin?  Nope.

 

Real estate and land, the same.  Many uses other than just watching the charts.  Bitcoin?  Nope

 

Hell, even a Forex investment throws off interest from the bank where you keep your Somali Simolians.  Bitcoin?  Nope.

 

Bitcoin reminds me of the emperor's new clothes...    They looked great to some.  Not so great to others.

 

Find me a crypto based on something tangible, and the game changes.

 

I am not here to sell you anything because i don't care who buys it or who doesn't

 

I believe Cryptocurrency and tokenisation is a game changer but it's still in its infancy so it could still fail 

 

 

as for use case, please see :

Xrp is the 3rd largest crypto project and it can and will replace the swift network for banks, only the currency exchange and transfer costs a tiny fraction of a penny (something like 1/10,000th) and they've already got over 200+ major financial institutions using it (average tx speed is between 4 and 7 seconds vs a few days and $35 fee +  for conventional banking) 

 

Its all about the risk tolerance if you want to get in this early, if you can't afford it then definitely don't, leave your money in the bank making ~1% a year (that's  just not for me, personally) 

 

I wouldn't advice anyone who can't afford to lose a penny to invest

in anything risky

[Ahab]

On ‎2‎/‎1‎/‎2019 at 1:04 AM, NCC1701A said:

 

It is interesting that the chart stops hallway through 2017, the chart from 2017 to the present would not help the argument that bitcoin is a good long (or short) term investment.

[Lacessit]

On 2/1/2019 at 12:48 AM, Otis Cribelcoblis said:

I have found, that those who are quick to tell others how rich they are or how they don't care are the ones who typically have nothing.

You are the OP that was boasting of how clever you were putting your money into gold? I'm not calling it investing, as it's a currency hedge. Is there some reason your OP has more credibility?

[Ks45672]

1 hour ago, Lacessit said:

You are the OP that was boasting of how clever you were putting your money into gold? I'm not calling it investing, as it's a currency hedge. Is there some reason your OP has more credibility?

Typically, gold has always been a terrible investment 

 

A store of value vs paper money is the only thing it looks good against 

 

But the futures is digital guys, whether we like it or not, cryptocurrencys like bitcoin are infinitely divisible, think about gold created in a digital age with limited scarcity predictable supply rate and as easy to send as an email, then you have bitcoin 

 

Basically, gold 2.0

 

 

 

[SCOTT FITZGERSLD]

the 800K should represent your annual living expenses. 

makes around 66,600 baht a month, the number of the beast.

if you keep them in regular saving account in thai bank, you should make 

around 1.6% a year (no fixed deposit, so all funds are liquid).

but your main risk might be exchange rate, in case the baht will be devalued, 

which can happan surprisingly, and can wipe off 10-20-30% of your 800K

baht worth in your origin currency.

so don't be confused between investments in gold or other things, and

the 800K annual living expenses.